The approval of spot Bitcoin exchange-traded funds (ETFs) in the United States has significantly impacted the cryptocurrency market, driving up demand and altering market dynamics. In a recent video, Cointelegraph discussed with experts the effects of this development and the potential for additional ETF approvals in the U.S.
Ophelia Snyder, co-founder of 21Shares, noted, “It’s not actually just about the U.S. market. Once you remove the major risk of what the U.S. regulator will do about Bitcoin, it changes the risk-return profile of the asset.”
Following their approval, spot Bitcoin ETFs quickly became one of the most successful ETF launches in history, attracting billions in capital inflows. This indicates strong interest in Bitcoin among institutional investors.
Bloomberg senior ETF analyst Eric Balchunas predicted, “We’re probably going to see way more than $15 billion by the end of the year.”
While a spot Ether ETF is expected to start trading soon, most analysts believe it won’t be as successful as the Bitcoin ETF. However, it is anticipated to boost Ether’s popularity among institutional investors. Michael Wursthorn, head of communication at Galaxy, stated, “It’s an invitation to understand more about the Ethereum ecosystem.”
For more insights into how ETFs are reshaping the crypto markets, watch the full video on Cointelegraph’s YouTube channel.
